FCA data paints a bleaker picture for gender diversity in financial services than recent studies suggest, as investment firms are urged to commit to a five-year plan to improve equality within their businesses. Speaking at an event for The Diversity Project, an initiative launched by former Newton Investment Management chief Helena Morrissey a year ago […]

Standard Life is changing the investment strategy of its default pension fund which would affect more than a million existing customers. Standard Life customers who are invested in older lifestyle profiles which were created pre-auto enrolment and pensions reform will soon be informed of the changes in the asset allocation of their default funds. The […]

Nick Train has added the first new holding in two years to the Finsbury Growth and Income trust, buying sought after shares in Manchester United directly from owners the Glazer family. Despite the market capitalisation of the football club sitting at $2.7bn, only approximately $700m is available to retail investors. “We accessed a block of […]

More advisers are looking to bring investments in-house, experts are predicting, but barriers to entry can be tough to overcome. Events such as the commercial property saga of last year and disappointment with some external discretionary fund management firms are cited as some of the reasons why advisers would prefer to have more control over […]

Lighthouse chief executive Malcolm Streatfield is not concerned about the FCA’s scrutiny of vertical integration as £15m flows into the firm’s investment arm in six months. In its results for the first six months of 2017, Lighthouse reports a growth in assets within its Luceo Asset Management business, from £5m to £20m as of June. […]

Baillie Gifford has slashed annual management charges by up to 10 basis points across its UK Oeics and Irish Ucits funds. Key changes include the Baillie Gifford European fund, reduced from 0.65 per cent to 0.55 per cent, and the Baillie Gifford Japanese fund down from 0.65 per cent to 0.60 per cent. The asset […]

Firms advising on or selling Priips products will be allowed to choose whether or not they include personal performance projections alongside Key Information Documents, the FCA has said. In a consultation paper published on Friday, the FCA finalised its approach to performance projections under Priips rules, following its recent update on disclosure rules for the upcoming […]